Many consulting services are actually delivered by one man, a freelancer, who actually doesn’t want and doesn’t try to build a business and company, but he’s trying to optimize the revenues he’s getting from his time. Many people started from this, and then only after that, they tried to build on the basis of this a separate business. Now in the case of any freelancer where you are trying to change the time into money, you should always look at the equation explained below.

Number of available hours x Utilization x Fee per hour + Additional revenues.

The revenues will be equal to the number of available hours, how you utilize them, how many of them are actually used to work or to deliver something for which the customers are paying. This will be related to the payable hours we get plus any additional revenues you make from things which are not related to your time.

So if you have 170 hours and 30% of them are actually sold and multiplied by $20/h rate, you’ll get $1020 basic revenue.without the additional revenues. We will now briefly go full ways to increase each and every of those components, so you can maximize the revenues you are getting from your work as a one man show, as a freelancer.

So the first obvious thing is getting new employees. This is an option that’s gonna lead you to building your own company. The problem with that, is, you need a career path, a training system and obviously the increment of the demand has to be permanent. If it is not permanent then you rather go for subcontracting. Since you don’t want to lose the customer, you are sharing some of the revenues with other freelancers like you or somebody you can subcontract the deal with. Subcontracting obviously means that they do part of the work independently. You supervise it to some extent, but actually they are roughly on the same level as you are.

Then the other way to approach this is basically by adding additional hours by adding a virtual assistant that he is doing some part of the work. This obviously requires you to divide the work in two parts, things he can do and the things he can’t do. So those which he can’t do, you have to do it on your own and the rest basically you have to omit. So you can actually have one freelancer with 10 to 20 virtual assistants that handle part of the work. This is also a very popular model used in direct sales to get the qualified lead. This is a great choice for temporary as well as permanent growth. Unfortunately you cannot scale things up until you cannot outsource some part of your job to your assistance.

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